Nabors Industries Ltd. (NBR) Shares are Up 2.89%

Nabors Industries Ltd. (NBR) has been under a strong bear grip, hence the stock is down -7.99% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2.45% in the past 1 week. The stock has risen by 2.89% in the past week indicating that the buyers are active at lower levels, but the stock is down -5.7% in the past 4 weeks.

Nabors Industries Ltd. (NYSE:NBR): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $9.22 and $9.15 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $9.36. The buying momentum continued till the end and the stock did not give up its gains. It closed at $9.26, notching a gain of 0.87% for the day. The total traded volume was 7,341,674 . The stock had closed at $9.18 on the previous day.

The stock has recorded a 20-day Moving Average of 1.06% and the 50-Day Moving Average is 4.53%. Nabors Industries Ltd. is up 11.51% in the last 3-month period. Year-to-Date the stock performance stands at 10.19%.

Nabors Industries Ltd. (NBR) : The most positive equity analysts on Nabors Industries Ltd. (NBR) expects the shares to touch $19, whereas, the least positive believes that the stock will trade at $8 in the short term. The company is covered by 15 Wall Street Brokerage Firms. The average price target for shares are $12.82 with an expected fluctuation of $2.59 from the mean.


Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company provides of offshore platform work over and drilling rigs. Its business is conducted through two business lines: Drilling & Rig Services and Completion & Production Services. It provides drilling technology and equipment and well-site services, including engineering, transportation and disposal, construction, maintenance, well logging, directional drilling, rig instrumentation, data collection and other support services. It manufactures and leases or sells top drives and other rig equipment. Its Drilling & Rig Services business line consists of four operating segments: U.S., Canada, International and Rig Services. Its Completion & Production Services business line consists of its operations involved in the completion, life-of-well maintenance and plugging and abandonment of a well and consists of two operating segments: Completion Services and Production Services.

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